Lloyds Banking Group fined over Libor

British bank accused of trying to manipulate benchmark interest rates

By

Max, Colchester, The Wall Street Journal

July 28, 2014 Updated: 8:55 p.m. GMT

US and UK authorities on Monday imposed roughly $370 million of fines on Lloyds Banking Group for attempting to rig a series of benchmark interest rates, including one that determined the fees the bank paid to access emergency taxpayer funding at the height of the financial crisis.

The British bank is the seventh financial institution to strike a deal with US and UK authorities in a long running probe into allegations of widespread attempts to manipulate the London interbank offered rate, or Libor, and other widely used interest...